NLCIL targets tripling power generation by 2030 with major focus on renewable energy for a net zero future
Sep 13, 2024
New Delhi [India], September 13 : Under the leadership of Union Minister of Coal and Mines, G. Kishan Reddy, India has made considerable progress towards a sustainable and low-carbon future. In line with its COP 26 commitments, the country is focused on reducing carbon emissions while advancing its development goals. India aims to achieve 500 GW of non-fossil energy capacity by 2030.
According to Ministry of Coal, NLC India Limited (NLCIL) plans to triple its total power generation capacity by 2030 to meet the dual goals of energy security and sustainability. The company intends to have 50 per cent of its capacity from renewable energy (RE), increasing its RE output from 1.43 GW to 10.11 GW.
The plan includes an estimated investment of Rs 50,000 crore in renewable energy, supporting India's RE targets and contributing to the nation's broader objective of achieving 'Net Zero' emissions by 2070.
This goal aligns with the Government's "Panchamrit" initiative announced at the COP 26 Summit as part of India's climate action commitments.
NLC India Green Energy Limited (NIGEL), a subsidiary of NLCIL focused on renewable energy, is poised to lead the company's RE portfolio expansion. Currently, 2 GW of renewable assets are under development, and NIGEL plans to grow further by participating in competitive bidding and exploring emerging opportunities in green energy.
This will reduce India's reliance on conventional energy, diversify energy sources, and cut coal imports, while ensuring continuous power supply across the country.
Looking ahead, NLCIL aims to increase its renewable energy share from 50 per cent by 2030 to 77 per cent by 2047, enabling the company to achieve Net Zero emissions by 2070.
With the energy landscape set to evolve beyond 2030, NLCIL does not foresee any new thermal power projects. Instead, it will focus on innovation to reduce emissions from its existing thermal plants.
